A Partnership

question 92

Multiple Choice

A partnership:

• A) Is also called a sole proprietorship.
• B) Has unlimited liability for its partners.
• C) Has to have a written agreement in order to be legal.
• D) Is a legal organization separate from its owners.
• E) Has owners called shareholders.

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Definitions:

Labor Day

An annual holiday celebrating the achievements of workers, observed on the first Monday in September in the United States.

Concrete

A construction material made from a mixture of cement, aggregates, water, and possibly additives, known for its high strength and durability.

Lumber

Timber that has been processed into beams and planks, a stage in the preparation for use as building material or other purposes.

Minor

An individual under the age of legal adulthood, typically under 18, who has limited legal rights and capacities.